<b>as promised earlier, here is the report from trader's montly parties last several weeks. surf</b> May 07, 2007 Bull Market Decadence In Manhattan--Signaling A Major Market Top? Flashes of 1920's style excesses flashed into my mind, as annaland and I entered Club Macunudo on Manhattan's Upper East Side, for Trader's Monthly Magazine's "Top 100 Earning Traders" celebration. Trader's Monthly is the premiere lifestyle magazine of the trading industry. It is both vilified and respected for showcasing the over the top lifestyles and missteps of the financial world's elite. One needs to have earned a minimum of 25 million dollars last year in order to even be considered for this honor, with many earning many multiples of this figure. Giving a nod to Tom Wolfe, these are the new Masters of the Universe. Arriving early, we pushed our way thru a phalanx of media types milling about the front door and were quickly whisked into the main party room. Large movie monitors played endless video loops of private jets and high end resort destinations on both sides of the room. Sponsors quickly descended on us offering property ownership and private jet leases. Although somewhat aggressive, they were highly professional and classy quickly backing off when given suttle hints of non interest. The club began to quickly fill to capacity, as cigars, high end liqueurs and unusual hor d'orves flowed freely to the gathering of predators, their groupies and various wannabees. One of the more well known Hedge Fundees in attendance ( who shall remain nameless) rose to notoriety due to his habit of leasing jets for the express purpose of entertaining the world' wealthiest people to obtain funding for his latest hedge fund project. Conversation swirled at deafening levels focusing on markets and deals. Not surprisingly, Manhattan's ubiquitous blond gold digger tribe was well represented in their short dresses and impossibly high heels, intently milling about to latch onto anyone who gave them a second glance. The room soon became uncomfortably over crowded making navigation and interaction a difficult chore. The collaborator and I rounded up our gang including -------- to find a more peaceful spot to continue our lively conversation. We ended up at a lovely and scrumptious Italian restaurant/pizza joint on 61st indulging in home made pasta and talking long into the night........We then left Gotham for even more peaceful surroundings and deeper talks on various esoteric and not so esoteric subjects......
On May 1st, Trader's Monthly held a grand opening party at Bulgari's flagship store at 57th and 5th. My raven haired, eastern European co-conspirator looked positively scrumpdelicious in her long black dress and perfectly shiny leather pumps. After negotiating the substantial velvet rope at the entrance, we began to explore the babbles and nick knacks of the ultra rich. The store quickly filled to capacity with an assortment of wall street characters, deal makers, traders, cubicle cowboys,and various media types. The crowd appeared to be much more refined and interesting than the previous party. We quickly made our way upstairs, finding an observation spot on a bed/couch type thing as the crowd ebbed and flowed around us. While closely lounging we partook of well made excellent Martinis and snacked on superb finger foods. We were introduced to multiple other attendees. One gentleman was wearing Bono style sunglasses and had multiple mystical amulets hanging around his neck, so ofcourse an entertaining conversation was struck up, others were more conservative but everyone was having a great time. There was a thick, bull market positive vibe filling the space and we stayed almost to the end. Upon leaving, the swag bag contained various pieces but the full-sized bottles of Bulgari perfume or cologne added an additional layer of class to an excellent event. We quickly made our way to our current favorite restaurant to chat and hang with the supreme beings of leisure types who normally populate the joint at this hour. The food was fantastic, but we were seated too close to several Upper East Side Mavens who were overtly keen on our every word. The rain began to all in earnest when we left for the office, a cold, heavy spring thunderstorm. The co-conspirator and I were soaked to the bone on the 10 block stroll in the pelting icy rain. On the upside,I was awarded the wet pink shirt contest during this romantic, lightning aided walk. Drying off a bit in EDIT, during a quick game of Foosball and shooting some baskets--which I won of course, we then left Gotham ending another unforgettable night during, what may be, the greatest bull market in history I believe this type of celebration of the trader is signaling a near term top in the US equity index markets. Market fever is so wide spread, Ciro Cipriani has installed 2 near life size wall street bulls outside his downtown location in Soho. One is in antique gold and the other in platinum, it will be interesting to see how long these remain during any type of market correction.
ok, stepping back intro the fray here. getting strong short indications in DJIA once again. SHORT YM @ 13422--first of 3 entries, will advise. holding eur/usd short with small profit at this time. regards, surf
I would very curious to know what is the mean average number of points that any given security or indice moves against your position after your first entry. I think by doing an analysis of that information you could reach min, avg and max values that a position may move against you. These values would also give you optimal prices at which you would make your second and third entries, as well as give you potential KILL POINTS for when to call a trade quits. Good trading, Jimmy Jam
thanks, JJ. yes, all of the above has been determined on this trade and others when entering in this manner. we'll see what happens, the top is nigh. best wishes, surf
checking in from the yacht, banjo?? nice to hear from you again, we'll see how his pans out. the top is nigh.... regards, surf